Most of these meme coins are now serving as an avenue for people who wants to pump and dump. Most of these groups would target such coins and pump them and once they increased heavily in price, they would be dumped for good. Such heavy dumps would discourage potential investors who had plans to invest in these coins.
That's right pump and dump but that game is only for the riches because the small traders are only trying to guess which way the market will move while the whales are actually controlling it. Yes, some small traders may get lucky and invest and divest at the right time but more small traders/fishes will bleed out to serve the bigger whale.
I don't understand why suddenly we are all so obsessed with meme coins despite knowing and calling them so.